iPhone Pro Shipments May Miss Consensus, Tesla Rival Charts Ambitious Expansion Plan In Mexico, Amazon Cloud Unit To Add More Employees: Top Stories Wednesday, Nov. 30

iPhone Pro Shipments May Miss Consensus, Tesla Rival Charts Ambitious Expansion Plan In Mexico, Amazon Cloud Unit To Add More Employees: Top Stories Wednesday, Nov. 30

Reuters

Tesla Rival Charts Ambitious Expansion Plan In Mexico, Eyes 10% Market Share, Says Report

  • BYD Company Limited BYDDY BYDDF is flexing its muscles in international waters, with the Warren Buffett-backed Chinese electric vehicle maker eyeing a strong presence in the North American country of Mexico.
  • BYD is planning to commence sales of its EVs in Mexico in 2023, and the all-electric Tang SUV and Han sedan will likely be the first vehicles launched, Zhou Zou, said the company's country head.

Musk's Twitter War On Apple Acts As Fodder For Spotify And Epic Games' Fight Against iPhone Maker

  • Elon Musk's Twitter war on Apple Inc gave Spotify Technology S.A. SPOT, and Fortnite maker Epic Games a powerful ally in taking the tech giant to task over its 30% App Store fees.
  • Spotify has previously submitted antitrust complaints against the iPhone maker in Europe, and Epic Games sued Apple in the U.S. in 2020.

Financial Times

China Taps Alibaba, Tencent To Beat US Sanctions

  • China has enrolled tech giants Alibaba Group Holding Limited BABA and Tencent Holding Ltd TCEHY to aid its efforts in designing semiconductor chips to reduce its dependence on Softbank Group Corp SFTBF SFTBY-owned Arm.
  • Arm, headquartered in the U.K. but has significant operations in the U.S., is seen as vulnerable to any ramping-up of U.S. sanctions.

Bloomberg

Volkswagen Explores EV Deal With Popular Apple Supplier To Tap Juicy US Market

  • Volkswagen AG VWAGY may tap popular Apple Inc AAPL supplier to make electric pickups and sport utility vehicles in the U.S. as the German carmaker weighs partnerships to support its North American expansion.
  • VW discussed with Hon Hai Precision Industry Co Ltd HNHPF, operating as Foxconn Technology Group, about cooperating on a factory to make models for its rugged Scout brand.
  • Europe's biggest carmaker is reviving the dormant off-road vehicle Scout brand to better compete in the lucrative U.S. pickup and SUV market.

Amazon's Cloud Eyes More Staff in 2023, Remain Invested In More Data Centers

  • Amazon.com Inc's AMZN cloud unit plans to add employees next year and keep building new data centers.
  • Matt Garman, a senior vice president overseeing Amazon Web Services sales and marketing teams, said he expected his organization and the wider AWS business to add staff in 2023.
  • "I anticipate that we actually will add some more headcount next year," Garman said in an interview on the sidelines of AWS's re: Invent conference in Las Vegas. "Our business is still growing rapidly."

Benzinga

Tesla Deserves Higher Valuation For 'Optionality Value,' Says Analyst — Highlights These Revenue Drivers

  • Tesla Inc TSLA has other optionality value, justifying a higher valuation, Bernstein analyst Tony Saccoghani Jr. said in a note.
  • Saccoghani detailed the other businesses and their potential contribution to Tesla's valuation.
  • Under optimistic assumptions, Sacconaghi expects $70 per share upside opportunities from these non-EV businesses.

Apple's iPhone Pro Shipments May Miss Consensus By 20M, Analyst Says

  • Apple Inc's AAPL iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said.
  • He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million - 75 million units, compared with the market consensus of 80 million - 85 million units.

Horizon Therapeutics Shares Jump On Confirmation Of Takeover Talks With Several Large Companies

  • Horizon Therapeutics Plc HZNP confirmed it's engaged in preliminary talks with Amgen Inc AMGN, Janssen Global Service, and Sanofi SA SNY on potential takeover offers for the company.
  • According to a statement, there is no certainty that an offer for the company will be made. Under Irish law, each possible acquirer has until 5 p.m. New York Time on January 10 to either make an offer or decide not to submit a bid.

Airbus And Renault Join Forces To Advance Research On Battery Systems

  • European plane maker Airbus SE EADSY has partnered with French carmaker Renault RNLSY to speed up their electrification roadmaps.
  • The partnership will help Airbus mature technologies associated with future hybrid-electric aircraft and will be detailed at the Airbus Summit.
  • Airbus' and Renault's engineering teams will join forces to mature technologies related to energy storage, one of the critical parts of developing long-range electric vehicles.

Nissan Gets ¥200B Green Loan For Electrification Projects

  • Nissan Motor Co Ltd NSANY has signed a ¥200 billion syndicated green loan agreement arranged by Mizuho Bank.
  • The lenders include Mizuho Bank, MUFG Bank, and other financial institutions.
  • Nissan will utilize the loan to support its clean mobility and related projects to progress its long-term electrification and carbon neutrality ambitions.
  • The loan contract period will be five and seven years.

Bob Iger's Restructuring Plan Will Accrue Impairment Charges, Disney Cautions

  • Walt Disney Co DIS expected organizational and operational changes to lead to impairment charges.
  • While the plans are in the early stages, changes in its structure and operations, including within DMED (and possibly its distribution approach and the businesses and distribution platforms selected for the initial content distribution), are pretty likely.

Foot Locker Looks For New CFO; Makes Several Leadership Changes

  • Foot Locker Inc (NYSE: FL) Chief Financial Officer Andrew Page will step down after the fourth quarter 2022 earnings report to pursue other opportunities.
  • The company has initiated a comprehensive search, with the assistance of an executive recruiting firm, to identify his successor.
  • Foot Locker has named Frank Bracken as the Executive Vice President and Chief Commercial Officer, effective December 1, 2022.
Posted In: Large CapM&ANewsManagementTop StoriesMarketsTechMediaGeneral